Americans say their pay isn’t keeping up with inflation
September 27, 2022
Seventy-one percent of Americans say that the cost of living is growing more quickly than their incomes, up from 58 percent in February, according to a survey sponsored by the Bank of America. Sixty-two percent report feeling stressed about their finances even though they are employed. “The major contributor to that stress is inflation,” said Lorna Sabbia, head of retirement and personal wealth solutions at Bank of America.
Recent News
Tesla Recalls Cybertruck Due to Stuck Accelerator Pedal
Tesla is recalling almost 4,000 Cybertrucks due to a sticking accelerator pedal. The problem stems from an unauthorized lubricant used during assembly, which reduces the pad’s grip on the pedal.
Trader Joe’s Recalls Organic Basil Product Linked to Salmonella Outbreak
The company’s Infinite Herbs Organic Basil product is recalled due to a possible salmonella contamination.
Procter & Gamble Reports Mixed Results After Price Hikes
Procter & Gamble’s recent quarterly results showed a mix of gains and setbacks. Despite facing challenges in attracting shoppers due to increased prices over the past two years, the company managed to exceed earnings expectations.
JetBlue and Southwest Airlines Collision Narrowly Avoided at Reagan National Airport
An air traffic controller instructed one plane to cross the runway at the same time a second plane was taking off.